Pulmo BioTech Inc. Announces that Its Pulmonary Vascular Diagnostic Product Candidate PulmoBind(TM) Shows Early Indications of B
November 11 2009 - 4:10PM
PR Newswire (US)
NEW YORK, Nov. 11 /PRNewswire-FirstCall/ -- Pulmo BioTech Inc. (OTC
Bulletin Board: PLMO.OB; Frankfort Borse: PBO) has announced that
early experimental results have indicated that its PulmoBind(TM)
product candidate can be potentially used for the early detection
and follow-up of many conditions that affect the physical and/or
biological integrity of the Pulmonary Circulation. These early
results, if confirmed by further experiments, would broaden the
range of conditions that PulmoBind(TM) is able to diagnose. "We are
very pleased with these early results. To date, we have mainly
concentrated on the use of PulmoBind(TM) as a diagnostic agent for
Pulmonary Hypertension (PH) and Pulmonary Embolism (PE). While our
work in these areas continues, early experimental results have
indicated that PulmoBind(TM) could be used to diagnose a wide range
of Pulmonary Vascular diseases associated with lung disorders,
heart disease and connective tissue disease. For example, lung
disorders associated with HIV, Cirrhosis and Shistosomiasis are all
conditions that we believe could potentially be diagnosed using
PulmoBind(TM). If our experimental results can be confirmed, then
PulmoBind(TM) has great potential as a front-line test to either
confirm or exclude disorders of the Pulmonary Circulation in
patients who present with "shortness of breath". PulmoBind(TM)
could also help in predicting outcomes in these patients and
guiding their therapy." - Garry McCann, CEO Pulmo BioTech Inc.
About Pulmo BioTech Inc. Pulmo BioTech Inc. specializes in the
development and marketing of medical technology and research. Our
proven strengths combine extensive commercial experience and
academic credentials. The principal staff members are acknowledged
experts in their specialized fields, and work with a broad range of
investment institutions. Our mission is to utilize scientific
imagination and drive, together with managerial and financial
acumen, to bring innovative and profitable products to the
marketplace to the benefit of all stockholders. ISIN: US7458451074
CUSIP: 745845107 WKN: A0RDTZ About PulmoScience Inc. PulmoScience
Inc. was established in 2006, and is currently developing a
non-invasive Molecular Imaging technique for the diagnosis of
Pulmonary Embolism, Pulmonary Hypertension and Lung Inflammatory
diseases under the trade name PulmoBind(TM). PulmoScience was
conceived within the Montreal Heart Institute "MHI" (a world
renowned hospital and educational facility). Jointly owned by MHI
subsidiary Innovacor as the technical and operational partner, Dr.
Jocelyn Dupuis (the scientific director and originator of the
PulmoBind(TM) Molecular Imaging technology), and by Pulmo BioTech
Inc. as the funding partner, PulmoScience Inc. aims to develop this
unique and exciting technology, to fund necessary trials, and to
bring the products to market. PulmoScience believes that the market
for its product candidates is worth in excess of $500 million per
annum and that, provided Regulatory Approval is achieved, the
safety and efficacy of its products could allow it to dominate that
market. About PulmoBind(TM) PulmoBind(TM) uses an intravenously
delivered radionuclide tagged molecule which specifically bonds to
the inner walls of the circulatory system in the lungs, and by the
use of an external Gamma Camera allows an image of the integrity of
the blood vessels throughout the lungs to be seen by a diagnostic
clinician. PulmoScience is currently undertaking Regulatory
Approval for Phase I Human Trials, and while subsequent results
from additional tests might not corroborate the current results,
PulmoScience believes that PulmoBind(TM) has the potential to
dominate the market for the diagnosis of Pulmonary Embolism. In
particular, this belief is driven by PulmoScience's expectations of
the improved safety and efficacy that PulmoBind(TM) will offer when
compared to the current incumbent nuclear medicine based technology
for the diagnosis of Pulmonary Embolism. In addition, early
indications are that PulmoBind(TM) could be highly effective in the
early stage diagnosis of Pulmonary Hypertension, a condition for
which there is no current front line diagnostic test. The
addressable market for the product candidates being developed by
PulmoScience is believed by the company to be worth in excess of
$500 million per annum. Further Information For further information
regarding Pulmo BioTech Inc. or PulmoScience, please visit
http://www.pulmobiotech.com/. Forward-Looking Statements
Forward-looking statements contained in this and other written and
oral reports are made based on known events and circumstances at
the time of release, and as such, are subject in the future to
unforeseen uncertainties and risks. All statements regarding future
performance, earnings projections, regulatory approval, events or
developments are forward-looking statements. It is possible that
the future performance of the company may differ materially from
current expectations, depending on economic conditions and the
uncertainty of regulatory approval. A change in economic conditions
may have a particularly volatile effect on results. Among the other
factors which may affect future performance are: competitive market
conditions and resulting effects on sales and pricing; increases in
raw-material costs that cannot be recovered in product pricing; and
global economic factors, including difficulties entering new
markets and general economic conditions such as inflation, interest
rates and credit availability. The company makes these statements
as of the date of this disclosure, and undertakes no obligation to
update them. DATASOURCE: Pulmo BioTech Inc. CONTACT: Peter B.
Hirshfield, +1-646-827-9362, , for Pulmo BioTech Inc. Web Site:
http://www.pulmobiotech.com/
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